MUMBAI: The Mumbai board of the Maharashtra Housing Area Development Authority (Mhada) has asked the government to restore the floor space index (FSI) for redevelopment of its colonies to four from the current three.
Mhada has argued that with FSI 4 it will be able to provide 1.5 lakh flats in the affordable segment while with FSI 3, can construct only 47,000 tenements. In 2013 the state government reduced FSI to 3 after it realized that in effect FSI actually went up to as much as 5.6.
Sambhji Zende-Patil, vice-president, Mhada, said he has proposed FSI 4 as proposals for redevelopment of Mhada colonies has dropped drastically after the change in policy. "The BMC, in its draft Development Control Regulations, to be implemented with the new Development Plan, though on hold, has proposed FSI 5 for Mhada and FSI 8 for some private plots. We want that till the new DCR is implemented, the government allow FSI 4."
The additional FSI will be used exclusively by Mhada to create affordable housing for low income groups, he said.
"Land in Mumbai is limited and the only way it can be enhanced is through FSI. Besides, there is a huge demand for affordable housing. But not enough stock is created. We intend to cater to this section," he said.
In his letter to principal secretary, urban development, Nitin Kareer, Zende-Patil said that prior to 2010, the redevelopment policy got a huge response and Mhada earned a revenue of Rs 2,518 crore and about 1,100 tenements of 484 sq ft were constructed.
He said the government's decision to stop the policy had resulted in 250 proposals being stuck. To enable the utilization of FSI, Zende-Patil has proposed that in case it cannot be used on the same plot, it should be allowed to be used on other buildings in the same ward. He has further said that in the case of plots that are less than 2,000 sq m, the society should be given the option of either paying Mhada or creating housing stock for it. In case of plots above 2,000 sq m, the option will be creating housing stock.
Pankaj Kapoor, MD, Liases Foras Real Estate Rating and Research Pvt Ltd, said that unless Mhada starts producing affordable housing in large numbers, the housing problem in the city can never be solved.
"FSI must be increased, but the entire FSI must be used solely for affordable housing. Mhada should not sell its land and allow a portion to be used for luxury construction... It is the only one in a position to bring economic balance in the real estate market."
Source - TOI
